LENSAR Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

LENSAR, Inc. (Nasdaq: LNSR) granted three newly-hired non-executive employees stock options to purchase 1,425 shares of common stock. The options were granted on April 1, 2024, at an exercise price of $3.38 per share. The options vest over time and have a 10-year term.

ORLANDO, Fla.--(BUSINESS WIRE)-- LENSAR, Inc. (Nasdaq: LNSR) (“LENSAR” or the “Company”) today announced that a majority of the independent members of LENSAR’s board of directors granted three newly-hired non-executive employees stock options to purchase an aggregate of 1,425 shares of the Company’s common stock. The options were granted as of April 1, 2024, as inducements material to each employee entering into employment with the Company. The options were granted in accordance with Nasdaq Listing Rule 5635(c)(4).

The options have an exercise price of $3.38 per share, which is equal to the closing price of the Company’s common stock on the grant date. The options vest as to 25% of the total amount of the award on the one-year anniversary of the grant date and in thirty-six substantially equal monthly installments thereafter, subject to the new employee’s continued service with the company. Each stock option has a 10-year term. The options are subject to the terms and conditions of LENSAR’s 2024 Employment Inducement Incentive Award Plan and a stock option agreement covering the grant.

About LENSAR

LENSAR is a commercial-stage medical device company focused on designing, developing, and marketing advanced systems for the treatment of cataracts and the management of astigmatism as an integral aspect of the cataract procedure. LENSAR has developed its next-generation ALLY^® Adaptive Cataract Treatment System, the first platform to integrate proprietary imaging and software, with an extremely fast dual-pulse femtosecond laser in a compact, highly ergonomic system. ALLY is designed to transform premium cataract surgery by utilizing LENSAR’s advanced technologies with the ability to perform the entire procedure in an operating room or in-office surgical suite, delivering operational efficiencies and reduced overhead. ALLY includes LENSAR’s proprietary Streamline^® software technology, designed to guide surgeons to achieve better outcomes.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240401083139/en/

Thomas R. Staab, II, CFO

ir.contact@lensar.com

Lee Roth / Cameron Radinovic

Burns McClellan for LENSAR

lroth@burnsmc.com /

cradinovic@burnsmc.com

Source: LENSAR, Inc.

FAQ

How many shares of common stock were granted to the newly-hired non-executive employees by LENSAR, Inc.?

LENSAR, Inc. granted 1,425 shares of common stock to the newly-hired non-executive employees.

What was the exercise price per share of the stock options granted by LENSAR, Inc.?

The exercise price per share of the stock options granted by LENSAR, Inc. was $3.38.

How do the options vest for the employees granted by LENSAR, Inc.?

The options vest as to 25% of the total amount of the award on the one-year anniversary of the grant date and in thirty-six substantially equal monthly installments thereafter, subject to the new employee’s continued service with the company.

What is the term of the stock options granted by LENSAR, Inc.?

The stock options granted by LENSAR, Inc. have a 10-year term.